Topps Tiles Q3 sales increase as Strata Tiles takeover bears fruit

267
Topps Tiles
// Topps Tiles Q3 sales up 3.8% in the 13-week period to June 29
// Trading improved over the first half of the year where like-for-like sales were up 0.2%
// Topps Tiles finished the period with a 365-strong UK store portfolio, down from 374

Topps Tiles has revealed an improvement in like-for-like sales in its third quarter compared to the first half of the year thanks to the acquisition of commercial business Strata Tiles.

The retailer’s like-for-like sales rose by 3.8 per cent in the 13-week period to June 29, an indication that trading improved compared to the first half of the year when like-for-like sales were up 0.2 per cent.

Topps Tiles said its sales rise is a result of its successful product range and the launch of its customer feedback system “Tile Talk”, which revealed an overall satisfaction score of 87 per cent and placing it in the UK’s top five retailers.

Meanwhile, the acquisition of Strata Tiles resulted in an improvement in its product range and accounted for 20 per cent of sales during the period.

Topps Tiles finished the quarter with a 365-strong UK store portfolio, down from 374 during the same period in 2018.

It said it expects two-thirds of these stores to be fitted with its “latest merchandising initiatives” by the end of the financial year.

“The business performed well over the third quarter with like-for-like sales growing by 3.8 per cent,” Topps Tiles chief executive Matthew Williams said.

“While this is in part due to a softer trading period in the prior year we are encouraged that the successful execution of our strategy is delivering good trading results.”

Click here to sign up to Retail Gazette’s free daily email newsletter